In agent lingo, burned means set up and fired.
First, understanding insurance lingo is only the.. .
A good analogy would be a medical student in training to be a surgeon would need to know the lingo in an operating room.
World Lingo - This site is helpful for translating slang.
There are a number of Iron Man options in the site's Halloween section, including the helmet, arc reactor (that's the heart, for those not familiar with the lingo), the mask and the armor itself.